Nifty and Bank Nifty Prediction for Monday, 17 Jan 2022
Nifty and Bank Nifty prediction for Monday, 17 Jan 2022: On Friday the Indian stock market closed almost flat and finished the week around a 2.5 percent gain. The broader markets closed mixed on Friday as the Nifty midcap index ends in red whereas smallcap was advanced on the last day of the week.
The markets opened lower on Friday amid weak global cues and traded volatile in the first half. However, the markets rebounded in the second half on the back of buying in IT and Realty stocks and closed flat. You can read Friday’s market updates here.
Nifty & Nifty Bank futures price movement on Friday, 14 January (Jan Expiry)
On Friday, 14 January, Nifty futures opened at 18220.60 levels, it made a negative opening of 66.65 points. It has touched an intraday high at 18320 and a day’s low at 18146.20.
The Nifty future has given a movement of 173.8 points on Friday. In the end, it declined by 4.60 points only or 0.03 percent, and ended at 18282.65 levels.
The Bank Nifty futures opened at 38349 levels on the last day of the week. It made a negative opening of 242.45 points on Friday. It has touched an intraday high at 38566.30 and a day’s low at 38109.95
On Friday, the Bank Nifty future gave a movement of 456.35 points. In the end, it declined by 145.45 points or 0.38 percent and closed at 38446 levels.
Nifty & Bank Nifty Prediction for Monday, 17 Jan 2022 (Jan Expiry)
Nifty Futures Prediction for Monday, 17 Jan 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18400 whereas All Down Moves Initiates Short Covering (Buy) @ 18250
If the Nifty futures share price Moves Above 18318 and sustain. Then you should Buy with 1st Target of 18347 during the day with a Stop Loss of 18302 FOR the Target of 18347- 18372- 18395
If the Nifty futures share price Moves Below 18280 and is sustained. Then you should Sell with the 1st Target of 18255 during the day with a Stop Loss of 18294. FOR the Target of 18255- 18232- 18208
Bank Nifty Futures Prediction for Monday, 17 Jan 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38800, whereas All Down Moves Initiates Short Covering (Buy) @ 38200
Suppose the Bank Nifty futures Moves Above 38610 and sustain, then you should Buy with the 1st Target of 38730 during the day with a Stop Loss of 38470. FOR the Target of 38730 – 38840 – 38945
If the Bank Nifty futures Moves Below 38350 and sustain, then you should Sell with the 1st Target of 38270 during the day with a Stop Loss of 38430. FOR the Target of 38270 – 38190 – 38130
Global market updates
On the global front, European markets closed in the red last Friday despite UK’s better than expected GDP growth and surged in the eurozone’s industrial output data in November. Investors are now worried about faster than expected rate hikes and asset tapering by US Fed.
The US markets closed mixed on the last day of the week. Dow Jones closed in the red as bank stocks fell after JP Morgan Chase reported weak quarterly earnings. The market sentiments got hit as the US retail sales and manufacturing data dropped due to Omicron and inflation surged.
Conclusions
Indian stock markets are looking positive, markets will open as per global cues on Monday. There is no major event scheduled in the coming week, Indian markets will take cues from the Q3 corporate earnings and global cues next week.
Tomorrow, you can follow “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
Also read, 10 Best Stock Market books to read while in quarantine
5 Best Stock Market Books- Beginners Must Read in 2021
If you like the post “Nifty and Bank Nifty Prediction for Monday, 17 Jan 2022” please share it with your friends and others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
